Bharti Hexacom secures Rs. 1,924 Cr from Anchor Investors in Pre-IPO Round

Bharti Airtel’s subsidairy organization Bharti Hexacom said that it has raised over Rs.1,923.75 crore from anchor financial investors in front of its initial public offering.

As per the exchange filing, the company allotted 3,37,50,000 shares to anchor investors at a cost of Rs.65 per equity share.

In a filing, the company said, “The Board of Directors of the Company in its meeting held on April 02, 2024, in consultation with SBI Capital Markets Limited, Axis Capital Limited, BOB tapital Markets Limited, ICICI Securities Limited and IIFL Securities Limited (collectively, the “Book Running Lead Managers”), have finalized allocation of 3,37,50,000 Equity Shares to Anchor Investors at Anchor Investor Allocation Price of Rs. 570/- per Equity Share (including share premium of Rs. 565/- per Equity Share)”.

Further the company stated, “Out of the total allocation of 3,37,50,000 Equity Shares to the Anchor Investors, 1,38,77,630 Equity Shares (i.e. 41.12% of the total allocation to Anchor Investors) were allocated to 22 domestic mutual funds through a total of 55 schemes.”

The anchor round registered a presence of more than 97 companies such as, Capital Group Asian Horizon Fund, Fidelity Funds, SBI Technology, ICICI Prudential, HDFC Mutual Fund, Abu Dhabi Investment Authority, Aditya Birla Sun Life, Axis Mutual Fund Trustee, Kotak Mahindra Trustee, Nipon Life, Morgan Stanley, Tata Mid Cap, White Oak Capital, Motilal Oswal & so on.

Bharti Hexacom is ready to turn into the debut Initial public offering of the impending financial year.

The Initial public offering will comprise exclusively of a deal available to be purchased by the public investor Telecommunications consultants India, intending to weaken 15 percent of its shareholding, identical to 7.5 crore value shares. The promoter, Bharti Airtel, possesses a 70 percent stake in the organization, with the excess 30 Percent held by Telecommunications Experts India.